U.S. mortgage rates for Monday, Feb. 13, dropped from the previous day and climbed from the same time last week, according to data from Bankrate.
30-year fixed-rate loans
The average daily rate for 30-year, fixed-rate mortgages was 6.72%, down 1 basis point from 6.73% the previous day and up 7 basis points from the same day last week. (Each 1% of a mortgage rate is made up of 100 basis points.)
The refinance rate for 30-year, fixed-rate loans was 6.86%, up 3 basis points from the previous day and up 11 basis points from the previous week.
15-year fixed-rate loans
A 15-year, fixed-rate mortgage averaged 6.04%, an increase of 3 basis points from the previous day and an increase of 25 basis points from the previous week.
For jumbo loans, which cover properties that are more expensive than those under a conventional conforming loan (about $647,000 in most areas), the rate was 6.76%, down 2 basis points from the prior day and up 4 basis points from the same day last week.
As for 5/1 adjustable-rate mortgages, which carry a fixed rate for five years that can then rise or fall each year after, the average was 5.42%, a decrease of 1 basis point from the previous day and rising 3 basis points from last week.
FHA and VA loans
The rate for 30-year, Federal Housing Administration-insured mortgages was 5.84%, down 1 basis point from the prior day and up 14 basis points from seven days prior. Mortgages backed by the Department of Veterans Affairs hit a rate of 6.08%, an increase of 2 basis points from the previous day and up 15 basis points from the last week.
On a state level, Hawaii saw mortgage rates rise the most day over day, increasing 6 basis points to 6.65%, followed by Delaware with a 4-basis-point increase to 6.57% and Tennessee at 6.76%, up 4 basis points.
No states saw declines in mortgage rates on Monday.
Editor’s Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Bankrate.
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